Theoretical neoliberalism is the long work of reconstruction of economic theory led by Friedrich Hayek and Milton Friedman and others to forge a mode of intervention that sees big state planning as a harbinger of new threats to individual independence and freedom—the road to a new serfdom. What should not be underestimated is the vast intellectual labor of this tradition—it can be traced from the famous Walter Lippmann Colloquium in Paris in 1938 and from the creation in 1947 of the Mont Pèlerin Society—its internal divisions and rifts and, toward the end, a certain disillusionment. An obituary of the latest president of the Mont Pèlerin Society, Kenneth Minogue, reports (Daily Telegraph, July 3, 2013) an ironic disillusionment at the very summit of the society: democratic governments inspired by neoliberalism have become quasi-totalitarian, tending a servile population: Saint George having seen off one...

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